CommonBond Raises over $100M in Equity and Debt Financing

The round was led by Tribeca Venture Partners, with participation from The Social + Capital Partnership, Vikram Pandit, Thomas Glocer, and Tom Kalaris.

Co-founded by CEO David Klein, Michael Taormina, and Jessup Shean, CommonBond allows MBA graduates who carry student loan debt to consolidate their MBA & undergraduate loans at a fixed rate of 5.99% (with automatic debit) and to finance their loans at a fixed rate of 6.24% (compared to the Federal Graduate Direct PLUS loan at 6.41%).
The company launched its inaugural loan program in November 2012 at The Wharton School of the University of Pennsylvania and is now accepting applications from students and graduates of 20 MBA programs with plans to roll out the platform to additional graduate degrees, including law, medical and engineering.

[…] NYC-based CommonBond announced today that it has expanded its student loan consolidation and low-cost refinancing program to graduates of law, medical, and engineering programs, as well as to additional MBA programs at Vanderbilt University, Washington University in St. Louis, and University of Texas. This expansion by the graduate student lending platform follows the goals it set after raising $100 million last September. […]